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retiring RIGHT P E R S Oklahoma Public Employees Retirement System ALSO IN THIS ISSUE: Director’s Corner Investing in Oklahoma Joseph A. Fox, Executive Director This newsletter is all “by the numbers” as we present our Popular Annual Financial Report for fiscal year 2016. Many people find numbers to be boring, but if you take a deeper look there is often a compelling story to be found. One such story is the investment our retirees are making in Oklahoma. In fiscal year 2016, OPERS paid out $565 million in benefits, and did you know almost 95% of these benefits stay in Oklahoma? A recent study by the National Institute on Retirement Security found that state and local pension plans like OPERS help drive economic activity within communities all across Oklahoma. According to the study, expenditures originating from state and local pensions in Oklahoma contribute nearly $3 billion in economic activity; support more than 20,000 jobs that pay $900 million in wages and salaries; and contribute $244 million in state and local tax revenue. Of the nearly $3 billion in economic impact, $1.3 billion resulted from retiree spending, and the remainder from businesses employing more workers and purchasing additional goods and services. (Continued on page 8) 2 / Retirement 101 Required Minimum Distributions: What It Is and Why You Should Care 3 / 2016 Popular Annual Financial Report By the Numbers 7 / Healthful Hints Four Ways to Show Your Brain Some Love 8 / Contact OPERS Estate Planning At a Glance “Estate” may sound like a fancy word, but everyone has one. Your estate is made up of everything you own – your car, home, bank accounts, investments, life insurance, furniture, and your prized baseball card collection. To ensure what you have is given to the people or organizations you care about most, you will need to provide instructions on how to handle your estate after your death. Below are elements everyone should consider to guarantee your wishes are carried out. Make a Will A will designates who will inherit your assets, who will be the executor of your estate, and who will care for any minor children you leave behind. Consider a Trust Holding property in a living trust can shield your survivors from the time and expense of probate court. A trust may also make it easier to transfer assets to a minor. Consider Your Health Care Directives A living will outlines your healthcare instructions and a medical power of attorney names one person who will make decisions for you if you cannot. (Continued on page 7) Retired Member Edition Winter 2016 See Inside: Comprehensive Annual Financial Report for the Fiscal Years Ended June 30, 2016 and June 30, 2015
Object Description
Okla State Agency | Public Employees Retirement System, Oklahoma (OPERS) |
Agency Division | Communications Department |
Okla Agency Code | '515' |
Title | Retiring right, winter 2016 retired member |
Authors | Oklahoma Public Employees Retirement System. |
Publication Date | 2017-02-01 |
Frequency | Annual |
Publication type |
Newsletter |
For all issues click | E3600.6 R438r |
Digital Format | PDF, Adobe Reader required |
ODL electronic copy | Filed through Documents.OK.Gov submissions system |
Rights and Permissions | This Oklahoma state government publication is provided for educational purposes under U.S. copyright law. Other usage requires permission of copyright holders. |
Language | English |
Month/year uploaded | February 2017 |
Date created | 2017-02-07 |
Date modified | 2017-02-07 |
Description
Title | Page 1 |
Full text | retiring RIGHT P E R S Oklahoma Public Employees Retirement System ALSO IN THIS ISSUE: Director’s Corner Investing in Oklahoma Joseph A. Fox, Executive Director This newsletter is all “by the numbers” as we present our Popular Annual Financial Report for fiscal year 2016. Many people find numbers to be boring, but if you take a deeper look there is often a compelling story to be found. One such story is the investment our retirees are making in Oklahoma. In fiscal year 2016, OPERS paid out $565 million in benefits, and did you know almost 95% of these benefits stay in Oklahoma? A recent study by the National Institute on Retirement Security found that state and local pension plans like OPERS help drive economic activity within communities all across Oklahoma. According to the study, expenditures originating from state and local pensions in Oklahoma contribute nearly $3 billion in economic activity; support more than 20,000 jobs that pay $900 million in wages and salaries; and contribute $244 million in state and local tax revenue. Of the nearly $3 billion in economic impact, $1.3 billion resulted from retiree spending, and the remainder from businesses employing more workers and purchasing additional goods and services. (Continued on page 8) 2 / Retirement 101 Required Minimum Distributions: What It Is and Why You Should Care 3 / 2016 Popular Annual Financial Report By the Numbers 7 / Healthful Hints Four Ways to Show Your Brain Some Love 8 / Contact OPERS Estate Planning At a Glance “Estate” may sound like a fancy word, but everyone has one. Your estate is made up of everything you own – your car, home, bank accounts, investments, life insurance, furniture, and your prized baseball card collection. To ensure what you have is given to the people or organizations you care about most, you will need to provide instructions on how to handle your estate after your death. Below are elements everyone should consider to guarantee your wishes are carried out. Make a Will A will designates who will inherit your assets, who will be the executor of your estate, and who will care for any minor children you leave behind. Consider a Trust Holding property in a living trust can shield your survivors from the time and expense of probate court. A trust may also make it easier to transfer assets to a minor. Consider Your Health Care Directives A living will outlines your healthcare instructions and a medical power of attorney names one person who will make decisions for you if you cannot. (Continued on page 7) Retired Member Edition Winter 2016 See Inside: Comprehensive Annual Financial Report for the Fiscal Years Ended June 30, 2016 and June 30, 2015 |
Date created | 2017-02-07 |
Date modified | 2017-02-07 |